Daily US Market Comments 21 Aug 2006 by MastersoEquity.com
FUNDAMENTALS
Markets have rallied on favorable economic data so far and there is no strong indication in the background to suggest an end to the rally yet. We should be expecting a little consolidation soon after such a strong run up.
TECHNICALS
Markets have rallied confidently so far and have reached a short term resistance level in the overbought region again. The last 2 days have seen major indices moving up very gradually in a more sideways fashion as they attempt to wear off some of the overbought indication. A break to upside from here should see the markets moving back up to where it used to be early this year.
Markets have rallied on favorable economic data so far and there is no strong indication in the background to suggest an end to the rally yet. We should be expecting a little consolidation soon after such a strong run up.
TECHNICALS
Markets have rallied confidently so far and have reached a short term resistance level in the overbought region again. The last 2 days have seen major indices moving up very gradually in a more sideways fashion as they attempt to wear off some of the overbought indication. A break to upside from here should see the markets moving back up to where it used to be early this year.
posted by Jason Ng at 7:31 PM
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